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You may remember in 2013 when the Rana Plaza garment factory collapsed, killing over 1,000 workers and injuring 2,500 more. Consumers and organizations around the world were appalled by the news, but many apparel companies continue these poor practices today. In addition to the human toll, we need to examine the negative environmental impact of the apparel industry. Toxic chemicals, massive water usage and material waste are byproducts of the rise of “fast fashion”.
Thankfully, things are changing! As consumers demand accountability from the brands they love, apparel companies are working to clean up their practices. A Nielsen poll found that 73% of millennial consumers are “willing to pay more for sustainable goods.” And a Reuters article found that consumers are demanding greater transparency, which we believe is a step in the right direction. Nonprofits are also advocating for more ethical practices across the industry. The Textile Exchange “focuses on minimizing the harmful impacts of the global textile industry and maximizing its positive effects.” They have created a community that is taking collective action to change the way the textile industry works, for the better.
As consumer pressure mounts, brands are looking for ways to show how they practice responsible sourcing and mitigate their negative environmental impact. These companies can, and should, be using responsible sourcing to differentiate their products. Transparency is a valuable competitive advantage and Peer Ledger’splatform supports companies who want to share their best practices with the world.
Peer Ledger DPP uses blockchain technology to provide end-to-end supply chain transparency. We help our customers comply with internal and external regulations, improve risk management, and communicate sustainability stories with customers. Whether your company is just starting its responsible sourcing journey or an industry veteran, we can help you record, track and report your impact.
